How We HELP
There is no right, no wrong stage. Building a startup is a long and strenuous road. We can offer help at different stages on that journey: from initial thoughts through ideating, validating a product, building, commercializing, raising funds, etc.
The earlier you ask for help, the more time, money and stress we may be able to save you.
- There may be anywhere between 3 to 13 angels in the room. Don't be intimidated - we're all on your side.
- No need to stand or present a fancy deck. Grab a seat and let's chat. We find that having an informal conversation is both more pleasant and effective.
- We only have a short 20 minutes together. To make sure we make the most of it:
Please take the first minute to tell us where you're at and what you'd like to get out of the meeting (advice, connections, next steps, funding questions, etc.)Try to keep the description of the current state to 5 minutes or less. This will leave us the remaining 15 minutes to ask questions and offer directions worth exploring.
- No need to prove a point with stats - at this stage we'll take your word for it.
- TIf questions or suggestions are raised during the meeting, it might be good for you to be able to take notes so you can explore them. This way, when you come back, we can discuss your progress.
- AUCKLAND
ADI Auckland is kindly hosted by GridAKL at the ground floor of 101 Pakenham Street in Wynyard Quarter.
Take a seat in the waiting area opposite reception. Your chaperone angel will come and get you in time for the meeting. If we are running late, please message your chaperone to confirm everything is still OK. - WANAKA
For Wanaka ADI head to 80 Ardmore Street. - Video Call
When joining remotely, note we use a single video call for all sessions. To allow the previous founder their full time, please wait to join until the exact time you're scheduled.
- Most founders we see are at too early a stage to be investable (see more here). Don't hesitate to keep coming back as you make concrete progress - we love tracking founders' journeys, and the more we learn about you over time, the more help we can offer.
- In a few cases an angel might find a venture both interesting and ready for investment. If so they might "champion" that startup by taking it to our Flying Kiwi Angels' monthly pitch night, possibly leading to a deeper due diligence process towards investment.
Angel Investors look for businesses that, when provided with capital, have a high probability for quick exponential growth.
This requires a large market, an offering customers are keen to pay for, a
clear competitive advantage, and a team that can execute (or knows when to
bring in people who can).
The best evidence is actual market traction, insights into the sales
process, feedback from customers, and an understanding of the skills needed
to build the business.
If this sounds like where you're at - show us!
Often customers will tell founders what they think the founders want to hear, and this can be significantly different from their actual behavior.
The gold-standard of proof is actual customers transacting with real money, so try to get to this point as quickly as possible.
NO! You should come to ADI Clinic as early as possible - the Angels can
often help by identifying tough areas of the business, and suggest ways to
validate solutions that don’t involve building a product (or spending much
money).
- We love to see Founders who come early, listen to advice, and then return once they have demonstrated progress.
- It is frustrating to see a Founder who has spent time and money building a product without validating that the business model is viable and that customers want to buy it.
- If you do not have a plan, the ADI session will default to being an unstructured friendly discussion between a group of interesting people. The Founder normally learns something, the Angels normally learn something, and everyone has a good time.
- Don’t plan on showing us an electronic (or paper) presentation. We have a TV that can show slideshows etc, however, it will probably waste some of your valuable time getting it set up.
- ‘Show and Tell’ is greatly appreciated by the Angels - if you have a product or sample then please bring it, but don't talk us through all the features. We are (mostly) prepared to believe that your product works and is valuable to its users - we are likely going to want to know more about your customers and traction.
- Make sure you can take notes. Angels will often mention really useful things during the general discussion.
- Look for action items. If an Angel explicitly asks you to get back to them with a piece of information then it’s in your interest to follow up with them so they can help you further.
Here are a few examples of meeting plans that you may find useful. Note that all of them start with the Founder telling the Angels what the Founder wants. This is because the Angels see many different types of Founders, and the type of Founder requests will have a big impact on the types of questions that the Angels ask.
Who is this for
You are someone who thinks that you might want to become a Founder one day (or maybe you have accidentally become a Founder).
Request Examples
You are someone who thinks that you might want to become a Founder one day (or maybe you have accidentally become a Founder).
Request Examples
- Should I become a Founder?
- What courses should I take?
- Do you know any co-founders for me?
- 1 min: Tell us your requests
- 5 mins: Tell us your background, finishing by restating your requests
- 10 mins: General discussion
- 4 mins: Circle back on your requests
Who is this for
You have a concrete idea for a product and/or company.
Request Examples
You have a concrete idea for a product and/or company.
Request Examples
- Is this a good idea?
- How big is the market?
- Can you introduce me to someone who can do X?
- 1 min: Tell us your requests
- 5 mins: Pitch us the idea.
- Use simple, concrete examples (even if the actual product is much more generic)
- Tell us what is hard about it
- Talk about competition
- 10 mins: General discussion
- 4 mins: Circle back on your requests
Who is this for
You have started work on a product/company, and think you might need investment..
Request Examples
You have started work on a product/company, and think you might need investment..
Request Examples
- Should I take investment or self-fund (bootstrap)?
- How do I value my company so far (pre-money valuation)?
- How much money will I need (investment)?
- What is the weakest part of my plan?
(valuation, use-of-funds, market size, exit possibilities, competition…) - Is this suitable to pitch to FKA investors?
- How can I find a FKA Deal Champion?
- 1 min: Tell us you are looking for investment, with any numbers that you know.
- 5 mins: Describe where you are at
- What stage is the product/company at?
- What are the risks?
- What are your current sales (user numbers)?
- 10 mins: General discussion
- 4 mins: Circle back on your requests
Who is this for
Entrepreneurs that already know most of the answers to every question that every Angel could possibly ask
Request Examples
Entrepreneurs that already know most of the answers to every question that every Angel could possibly ask
Request Examples
- I want to raise X$ at Y$ pre-money valuation.
- With X$ I can reach my next inflection point which is Y.
- I need X$ to do Y.
If you think you are in this category, then you are probably wrong, and should actually pretend that you are in the previous ‘Product Funding’ category. Seriously. The Angels will thank you, and if you are ready, you will still get the invite to an FKA pitch night.
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